Base Metals Overnight Update

Advisory Bazaar Info Services

🔹 Copper: LME copper closed at $13,185/mt, up 0.96%, supported by fresh bullish positions. SHFE copper (2603) settled at 102,450 yuan/mt, gaining 0.93%, with bears reducing positions.

🔹 Aluminium: SHFE aluminium closed at 23,525 yuan/mt (-0.06%) with continued short-term bearish pressure, while still holding above the long-term average. LME aluminium ended at $3,109/mt (-0.67%). Expected trading range: 23,300–23,800 yuan/mt (SHFE) and $3,080–3,140/mt (LME).

🔹 Lead: LME lead settled at $1,974.5/mt after recovering from lows on a weaker dollar. SHFE lead (2603) closed at 16,665 yuan/mt, up 0.48%, forming a doji pattern.

🔹 Zinc: LME zinc closed nearly flat at $3,382/mt (-0.03%). SHFE zinc (2604) settled at 24,520 yuan/mt, down 0.18%, with mixed positioning.

🔹 Nickel: SHFE nickel (2603) declined to 133,300 yuan/mt, down 0.21%.

🔹 Tin: SHFE tin (SN2603) surged 4.18% to 385,140 yuan/mt, showing strong upward momentum.

Overall: Copper and tin showed strength, aluminium remained under pressure, while other base metals traded mixed.